BOOTES and CargoPeople Announce Joint Venture for Launching BOOTES Cold Storage

New Delhi,29th April 2024: BOOTES, India's first Net-Zero company, and CargoPeople, one of India's leading multimodal Logistics company., have come together in a joint venture to launch Net-Zero Cold Storage, a revolutionary initiative addressing the nation's critical food waste challenge.  

The mission of the joint venture is to prevent food waste in India with Net-zero cold storage and tackle the ever-growing energy demand in India with renewable energy, not fossil fuels. The vision is that no child should go hungry.  

Bootes Cold Chain has partnered with URBS (Urban Systems urbs AB) to leverage their expertise in sustainable technologies and finance, that will be required in the Indian cold storage sector. Bootes Cold Chain sees this as a multi-billion-dollar opportunity to attract green financing for building new cold storage facilities. Their ambitious goal is to deliver USD 1 billion in net-zero coldbstorage projects over the next five years.

Aiming to transform India's cold storage landscape, the joint venture will flourish under BOOTES Cold Chain expertise in Net-Zero technology and infrastructure and People's expertise in the supply chain. Net-zero cold storage can decrease food waste from 40% to 5% in the next 10 years, as it is 50% more efficient than traditional cold storage systems. This can increase the shelf life of the perishables. The initiative has the impact of bringing down electricity consumption costs by 60%, offsetting 80% of carbon emissions for this planet, and aligns with the NET-ZERO goals of India. 

Deepak Rai, Founder and MD at BOOTES shares, "There will be an unmatched rise in temperature in the coming decade, the energy consumption in the next decade will be higher than ever, and approximately 60% of crops might get wasted in India. Cold storage is expensive in India; a farmer cannot afford expensive cold storage systems, which is why Net-Zero Cold storage is the need of the hour. Our cold storage model is aligned with the government's NET-ZERO 2070 goals, and we hope that it will positively impact the children and the farmers of India."

Manuj Adlakha, Founder and CEO from CargoPeople, shares,
"India's cold chain sector faces unique challenges, including frequent power outages, exorbitant operational costs, and fragmented infrastructure. These hurdles hinder efficiency and contribute to substantial food losses. However, the potential for growth is undeniable, with the Indian cold chain market projected to reach INR 3,79,870 crore by 2028, driven by rising demand and evolving consumer preferences. This collaboration has brought together our mutual expertise, resources, and commitment to making a positive impact."


About BOOTES: 

India's first Net-Zero company, BOOTES, is synonymous with innovation in India's construction landscape, spearheading a paradigm shift towards sustainable Net-Zero infrastructure. The company is committed to revolutionizing the industry, one eco-friendly project at a time. 

In their quest for a greener, healthier Bharat, BOOTES is not just building structures but rather crafting a sustainable legacy. The company's vision transcends traditional construction norms. As architects of change, they envision a future powered by 100% on-site energy generation, thereby reducing carbon footprints and operational costs. Their projects, like the Net-Zero Jhansi Library, Shrimad Bhagwat Geeta Museum, Haryana, Pradhan Mantri Sangralahaya, Delhi, 354 Hudson Street, New York, World Expo India Pavilion, Dubai, etc., spanning the length and breadth of India, echo their unwavering commitment to PM Modi's vision of Net-Zero nation by 2070. 

About CargoPeople: 

Cargopeople Logistics and Shipping Pvt. Ltd. HQ in New Delhi is a leading multimodal logistics company incorporated in 2011 with a vision to help organizations grow manifold by managing their delivery commitments to their overseas partners. It has been Awarded as the "Best Multimodal Company" by India Cargo Awards and "Top 10 Fastest - Growing Logistics Companies in India" by ET NOW. With a Mission to become a Fully Integrated Technology Enabled Supply Chain Partner for all customers across the globe, CargoPeople Logistics has enabled more than 1535 business partners to achieve an Exceptional Growth Rate reaching upto 200% in their markets by offering customized Multi-Modal Supply Chain Solutions with 98.5% on-time deliveries.  

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